Boxing gyms are popping up all over the place. If you’re thinking of starting your own boxing gym, then there’s a lot to take into consideration. You’ll need to find an appropriate location for your business, hire qualified instructors and staff, as well as purchase necessary equipment and supplies before opening your doors for business. In this article, we will cover everything you need to know about how to start a boxing gym!
Location is everything
Finding the right location for your new boxing gym is essential to its success. The best places are usually near other fitness businesses or in an area where there’s high traffic of people walking around, so if you find one with both qualities then it may be worth looking into! You’ll also want to consider how much space you need- which will also depend on what services you want to run.
Bring in a professional trainer
Once you’ve found your perfect space, it’s time to get down to the nitty-gritty of starting up a boxing gym business. Your first step in getting started is finding someone with experience teaching boxing classes and asking them if they would be interested in joining your team! There are generally few difficulties in finding boxing instructors, so most people should have no problem finding one. Don’t forget to take the instructor’s experience level into consideration as well as certificates. Following this comes the hiring of non-technical employees.
Consider working with professional boxers for promotion
Target the professional boxers to promote your boxing gym by letting them know that you want to be a good place for their trainers and sparring partners. They will not only bring in more customers, but they’ll also help you build up quite an impressive reputation. Some big boxing names, such as Terrence “Bud” Crawford already have their preferred boxing gyms but imagine the challenge of having an upcoming top-level professional boxer decide to make your gym their “home” as well.
Now that you’ve got your team together, it’s time to start attracting the right people. One of the best ways to do this is through sponsorships. This will not only help make money for you but also increase awareness about what you’re doing. Sponsors are particularly valuable if they have some connection to your business or a product, so be sure to select sponsorships that are relevant to the business. A few examples are ex-pros, nutritionists, and professional equipment manufacturers.
Protect your gym with insurance
One of the things you’ll want to ensure you have in place before opening your doors is insurance. You will need professional liability coverage for your boxing trainers and they can also acquire this on their own. For most people, these are a given but for some boxing gyms, this can be one more thing they wish they had sorted out earlier before opening up.
To cover and protect the business from possible property and bodily injury claims, caused not by trainers but incidents that happen in the gym that the business might be liable – you are to acquire a boxing insurance which is a package of the right policies for this kind of business.
Insurance is not a one-time thing so make sure you’re getting the right coverage for your boxing gym business and that it’s going to continue to tier with your growing needs!
Get the pricing right
Pricing your boxing gym services is a very important aspect to consider. If you have no idea what the going rates are, then it’s time to do some research. Find out how much other gyms in your area charge for their classes and then make sure that the pricing of yours falls somewhere in between the same range. This will ensure that you are providing enough value to your customers whilst still making a profit.
Starting your own boxing gym may seem like a daunting task, but it is not impossible. With the right connections and the right knowledge, it can actually be quite simple. Thanks for reading! I hope the tips in this article have helped you make that first step towards this lucrative and exciting venture!